THE EBF MORNING BRIEF IS BACK!

We are happy to see you again for a new exciting season of key events 
and stories in the financial and banking sector.

FROM THE MEDIA

Reuters: Chorus backing big ECB rate hike grows

European Central Bank (ECB) policymakers called for decisive and swift rate hikes on Tuesday to combat soaring inflation, suggesting that the choice in next week's policy meeting will be between a big move and an even bigger one. According to Reuters, that leaves the choice largely between a 50 and a 75 basis-point hike. Read more

FT: Eurozone inflation rises to a record 9.1%

Eurozone inflation rose to a record 9.1 percent in the year to August, intensifying fears that soaring prices are becoming embedded in the economy and bolstering calls for the European Central Bank (ECB) to raise interest rates more aggressively next week. As reported by the Financial Times (FT), the EU is preparing emergency measures to curb the price of electricity by separating it from the soaring cost of gas. Read more

Bloomberg: Bank of Ireland names Interim CEO 

Bank of Ireland named Gavin Kelly Interim CEO as it continues to search for a replacement for outgoing CEO Francesca McDonagh. Bank of Ireland’s former chief financial officer, Myles O’Grady, seems to be the bank’s choice to succeed McDonagh, Bloomberg reports. However, this is subject to vetting by Irish and European central bank officials. Read more

THE EUROPEAN BANKING SUMMIT 2022 IS COMING!

Registration is still open!

MAIN EVENTS

Thursday 1 September

• European Parliament Committee on Economic and Monetary Affairs

• European Parliament Committee on Budgets

• World Conference on Climate Change & Sustainability

Friday 2 September

• Council Working Party on Financial Services and the Banking Union (Financial Services)

For a full-year overview of key financial regulation events: click here

FROM THE EBF MEMBERS

BdB: Something is happening in reporting

BaFin published the results of the "Feasibility study on the realignment of the banking supervisory reporting system" which showed that a reporting system without templates can be implemented. According to the Association of German Banks (BdB), the findings from the study are clear: a special national solution is not expedient. Alignment with European initiatives is essential. Read more (DE)

UK Finance: Managed services: Market pressures accelerate adoption

While big banks have relied on managed services for decades, smaller finance and banking entities have held back. A perfect storm of market pressures is changing the mindset and accelerating adoption across a wider financial segment, UK Finance says. Read more

SBA: Well-positioned banks enter economically and politically uncertain territory

In Switzerland, the measures taken in the wake of the COVID-19 pandemic were gradually relaxed in 2021. This was accompanied by a strong economic recovery and a fall in the unemployment rate. The Banking Barometer by the Swiss Bankers Association (SBA) found that the business situation of the 239 banks operating in Switzerland at the end of 2021 improved accordingly. Read more (DE)

FROM THE INSTITUTIONS

ECB: Euro area insurance corporation statistics Q2 2022

The European Central Bank (ECB) has published the Euro area insurance corporation statistics for the second quarter of 2022. According to data, the total assets of euro area insurance corporations amounted to €8,480 billion, €456 billion lower than in the first quarter of 2022. Read more

EC: Fiscalis program for cooperation in taxation

The European Commission (EC) has published a Delegated Regulation (EU) supplementing Regulation (EU) 2021/847 of the European Parliament and of the Council with provisions on the establishment of a monitoring and evaluation framework for the Fiscalis program for cooperation in the field of taxation. Read more

BIS: From 500 percent to -0.5 percent: What is next?

Anna Breman, Deputy Governor of the Sveriges Riksbank discusses the economic policy framework in Sweden. Is it possible to complement or modernize the framework to reduce known vulnerabilities while enabling investments that boost long-run potential growth and prosperity, and help alleviate some of the supply-side problems that contribute to high inflation? Read more

FROM THE EBF this month

EBF Responses to EFRAG consultation surveys

The European Banking Federation (EBF) supports EFRAG’s extensive efforts to build European sustainability reporting standards (ESRS) reflecting the EU’s ambition in tackling sustainability issues. Improving the quantity, quality, and reliability of sustainability disclosures in the EU will only be possible in the presence of efficient and harmonised reporting standards. Read more

EBF Response to the European Commission’s call for evidence on Open Finance

The European Banking Federation (EBF) has responded to the European Commission’s Call for Evidence on an “Open Finance Framework – enabling data sharing and third party access in the financial sector.” Read more

EBF consultation response on the International Sustainability Standards Board (ISSB) Exposure Drafts

The European Banking Federation (EBF) welcomes the International Sustainability Standards Board’s (ISSB) efforts to develop a commonly accepted global baseline for sustainability disclosures. Read more

EBF response to the EBA Discussion Paper on the role of environmental risks in the prudential framework

The European Banking Federation (EBF) has responded to the discussion paper of the European Banking Authority on the role of environmental risk in the prudential framework. Read more

New EBF Vacancies! Work with us!

Visit our Vacancies page to learn more about the opening positions at the EBF. Read more

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European Banking Federation